IPMAN Accuses NNPCL Of Holding Billions Hostage, Calls For Urgent Probe!

 IPMAN Accuses NNPCL Of Holding Billions Hostage, Calls For Urgent Probe!....KINDLY READ THE FULL STORY HERE▶

In a heated exchange, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has fired shots at the Nigerian National Petroleum Company Limited (NNPCL), alleging a staggering delay in fuel supply and claiming that over N300 billion of its members’ funds are trapped with the state-owned company…CONTINUE READING.

IPMAN’s National Vice President, Hammed Fashola, dropped the bombshell in a strongly-worded statement on Tuesday, accusing NNPCL of questionable practices. Fashola contended that IPMAN members are forced into a cash-and-carry system, devoid of any credit facilities, leading to severe financial strain.

“Sometimes, we pay for products, and you don’t get the products for two or three months. You have your money in the coffers of the NNPCL, which means they are trading with our money. If I am not exaggerating, we should be talking of over N300 billion considering the number of marketers all over Nigeria. Our money is always trapped while we struggle to get fuel,” he asserted.

In response to the bombshell accusation, NNPCL’s spokesman, Femi Soneye, appeared to dismiss the claims, stating, “I am not aware of anything like that. IPMAN has an appropriate channel through which they communicate with us. Whoever makes that allegation in IPMAN should provide the evidence.”

As the fuel industry skirmish unfolds, the controversy deepens, with IPMAN demanding swift action to address the alleged financial entanglement and fuel supply woes. The brewing feud raises eyebrows, putting the spotlight on the intricacies of Nigeria’s fuel distribution system and the financial dealings between IPMAN and NNPCL.